Huntington's Disease

Teva shares soar 10% on strong revenue in first quarterShares of Teva Pharmaceutical Industries Ltd. jumped 10.3% in premarket trading on Thursday after the company reaffirmed guidance for 2020 and beat revenue expectations for the quarter. Teva had earnings of $25 million, or 6 cents per share, for the first quarter of 2020, against a loss of $97 million, or 10 cents per share, in the same period ago. Adjusted-per-share earnings came to 76 cents, ahead of the FactSet consensus pf 59 cents. Revenue was $4.3 billion in the first quarter, up from $4.1 billion in the first quarter of 2019. The FactSet consensus for revenue was $4.1 billion. The company attributed the revenue growth to higher sales of generics and over-the-counter products in Europe and Huntington's disease treatment Austedo in North America. Austedo brought in $122 million in sales in the first quarter of 2020, up from $74 million in the first quarter of 2019. In Europe, increased buying of generic drugs as a result of the COVID-19 pandemic fueled sales of those products there. "We estimate that the impact of the COVID-19 pandemic on advanced purchasing patterns was approximately $100 million," Teva said. The company reaffirmed guidance for the year, with revenues of $16.6 billion to $17 billion and EPS of $2.30 to $2.55. Its stock is up 7.3% year-to-date, while the S&P 500 is down 11.8%.

Teva's stock falls on earnings; Copaxone sales tumble 26%Shares of Teva Pharmaceutical Industries Ltd. were down 1% in premarket trading on Wednesday after the Israeli drugmaker reported earnings of $110 million, or 10 cents per share, in the fourth quarter of 2019, after a loss of $2.9 billion, or $2.85 per share, in the same quarter in 2018. Adjusted earnings per share were $683 million, or 62 cents per share, matching the FactSet consensus of 62 cents. Revenue rose 1% to $4.46 billion in the fourth quarter of 2019, up from $4.42 billion in the same period a year ago. The FactSet consensus was $4.42 billion for the quarter. Teva attributed the growth to Huntington's disease treatment Austedo and migraine drug Ajovy, saying sales of those products offset lower revenue from multiple sclerosis therapy Copaxone in North America. Sales in North America jumped 6% to $2.37 billion in the fourth quarter, beating the FactSet consensus of $2.14 billion. However, North America sales of Copaxone, Teva's longtime flagship brand, tumbled 26% to $254 million for the quarter, down from $356 million in the same quarter a year ago, as a result of generic competition. Teva issued guidance for 2020, saying it expects revenues of $16.6 billion to $17.0 billion and adjusted EPS of $2.30 to $2.55. Teva's stock is down 32% over the past year, compared to the Health Care Select Sector SPDR Fund , which has gained 16%.

Teva earnings preview: Opioid suits are ‘key’ Analysts say the terms from a global settlement around opioids will impact shares in the future Teva Pharmaceutical Industries is scheduled to report third-quarter earnings on Thursday, and the struggling generic drugmaker’s recent opioid settlement is expected to take center stage.

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